Colombia Foreign Investment Law

Existing foreign investment law in Colombia has given full legal rights to foreign citizens who want to invest in Colombian real estate. The latest law (Decree 241 of 1999) has made the buying process much simpler.

As a foreign citizen you can buy and own real estate in a safe and confident way.

It used to demand a lot of paperwork some years ago. But now it is much easier for foreign citizens to buy real estate in Colombia!

Colombia Law benefits international real estate investment by:

� Allowing a foreigners to buy, own, record, sell or rent real estate without limitation and return the sale proceeds to their country of origin.

� Eliminating former documents require to act as a business permanent person.

� Repealing a constitutional provision that empowered the Colombian government to confiscate foreign-owned property without providing any compensation.

You have the same rights as if you were a Colombian Citizen !

The old law required foreign citizens to have a local foreign ID ( Cedula de extranjeria), or have someone with a Cedula, to act as their official agent, when signing the deed.

Now you do not need a cedula or visa, just your passport with a valid Tourist 60 or 90 days stamp. The Notary will ask you this at the moment of signing the Deed (Escritura).

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